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No exporter or trader responded to tenders for purchase of turmeric in Erode as they don't have orders from North India.
“The turmeric markets in Erode are being dominated by stockists and 55 per cent of the 18,000 bags of turmeric that arrived were purchased by them. No trader or exporter placed tenders, as there were no fresh orders from north Indian towns.
“Further, prices in Sangli and Nizamabad markets are Rs 500 a quintal lower than in the Erode markets. Though prices at Sangli and other places are not viable for turmeric farmers, they are selling as they require money for agricultural operations,” said Mr R. K.V. Ravishankar, President, Erode Turmeric Merchants Association.
On Wednesday, prices fell by Rs 100-150 a quintal.
According to Mr Ravishankar, turmeric production is high this year and a minimum of 80 lakh bags of turmeric (each bag weighing 85 kg) are expected to be produced. But sales, he said, will be lower.
He said that traders and exporters are expecting prices of turmeric to fall by Rs 300-400 a quintal next week. So they did have not purchase any stock.
Traders also said that last year at many places in Karnataka and in Tamil Nadu ‘s Dharmapuri, farmers have harvest a reasonable yield of over 25 quintals an acre.
However in Erode district, though the acreage has increased, the yield has dropped below 20 quintals an acre. So Karnataka farmers are ready to sell their produce at a lower price, whereas in Erode district the farmers are incurring loss.
The farmers expect prices to prevail at this level or increase only slightly in the next 15 days. And due to rain, the arrival of turmeric at the Regulated Marketing Committee was lower at 680 bags,.
At the Erode Turmeric Merchants Association Sales yard, the finger variety sold at Rs 2,326-3,391 a quintal, and the root variety at Rs 2,320-3,195.
Salem crop : The finger variety sold at Rs 3,499-4,009 and the root variety at Rs 3,118-3,295. Totally, 3,038 bags of turmeric arrived for sale, of which, 1,459 were sold.
At the Regulated Marketing Committee, the finger variety sold at Rs 3,123- 3,599 and the root variety, at Rs 3,069-3,299.
Of arrival the 680 bags that arrived, 628 of them were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 2,886-3,606 and the root variety at Rs 2,539-3,389. All the 336 bags of turmeric that arrived for sale were sold.
At the Erode Cooperative Marketing Society, the finger variety fetched Rs 2,780-3,689 and the root variety Rs 2,575-3,299.
All the 1,376 bags kept for sale were sold.
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